Low footfall before Diwali leaves jewellers jittery

They are apprehensive of seeing a low turnout of customers for the second consecutive year.Jaipur: Gold has lost its sheen for the consumers this festive season. Rallying at Rs 26,000 per 10 gram is also not helping to boost sales of yellow metal, making jewellers and traders jittery.

Jewellers, who generally have the biggest footfall of the season during this period of the year, are eagerly waiting for customers. They are apprehensive of seeing a low turnout of customers for the second consecutive year.

"The government policies are not at all friendly for the sector. Unless the import duty, which at present is 10% , is reduced, the jewellery sector will return to its old days," said Ashish Meghraj, spokesperson of the Sarafa Traders Committee.

According to the traders, several showroom owners and shopkeepers opened their shops on Sunday.

However, their hopes soon vanished with negligible customers visiting.

"Sundays are usually hectic days before Diwali. The enthusiasm is missing from the market. It would have been fine even if we had kept our shops closed," said Snaket Mittal, a jeweller.

Jewellers claim that government promises to bring down the import duty when prices of oil and inflation are reduced. However, they are yet to take any substantial step in this regard.

The labour that used to work overnight for the timely delivery is largely sitting idle this season. Many artisans and goldsmiths have started working on other things to earn their livelihood.

Meanwhile, the investors too are shying away from investing in the precious yellow metal.

"Why would anyone be interested in investing when the prices have come from Rs 32,000 per 10 gram to Rs 26,000 per 10 gram," added Meghraj.